Question

what do you transfer balance of depreciation account ?
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Answer 1

Answer:

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❀ Depreciation is an expense to business and therefore, it is a nominal account. At the end of accounting period, all nominal accounts are closed by transferring balance to profit and loss account.

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Answer 2

Answer:

• Depreciation is an expense to businesses and therefore of accounting period,all nominal account are closed by transferring balance to profit and loss account